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On July 18, Peru’s Congress approved a bill which would pay the country’s 40 year old land reform bonds which could be worth $1.4 billion or more. The bill, which has yet to be signed into law, instructs the finance ministry to establish a debt swap program which could consume 1 percent of the country’s GDP. The law allows owners of the old land reform bonds to swap their certificates for new sovereign debts. The law also specifically stipulated that the new bonds have up to 30 year maturities so that the next government would not saddled with the entirety of the debt. The bonds were issued in Peru’s bitter 1970’s, when leftist President Gen. Juan Velasco attempted a land redistribution by giving the land of the wealthy to the poor. However, many middle-class land owners were also ensnared in the scheme.
July 20th, 2011 | Posted in Global Finance,Headlines,International Real Estate,Real Estate News | Read More »
Biofuels have come to be viewed as a renewable source of energy for our transportation needs in the future, and investment in the area has become quite intense. However, this rush to invest has led to an erosion of the very principles of renewability which make biofuels popular in the first place. For instance, large sections of tropical rainforest and rich peatlands are being over harvested, sown over, or otherwise destroyed in order to make more room for the switch grass, corn, and soya feed stocks for ethanol. The growing demand for biofuels must be met with sustainable production practices, or else the efforts towards fuel efficiency and sustainability will simply be replacing one bad practice with another while providing a false sense of well-being. To this end, the EU has set up a system for biofuel sourcing which relies both on voluntary certification agencies and member state evaluations of biofuel sustainability.
July 20th, 2011 | Posted in Global Finance,Headlines,International Real Estate | Read More »
Sao Paulo’s credit card interest rate averages a whopping 238 percent, according to a study conducted earlier this year by Fecomercio, a federation of commerce. That roughly translates to a $3,380 tab for carrying a balance of just $1,000 dollars for one year. With the Central Bank of Brazil attempting to curb it’s rising inflation, that interest rate is likely to rise. In the 1990′s and early 2000′s Brazil experienced hyperinflation and economic upheaval. When the economy was finally under control, banks expanded credit offers for commercial entities and individuals. Bank credit cards in circulation have tripled to 150 million in that time, which is roughly .75 credit cards per person. By contrast, the rate of US credit card ownership is about 60% percent.
July 16th, 2011 | Posted in Global Finance,Headlines,International Real Estate | Read More »
The Tambatuon Dam project in Kota Belud, Malaysia may be the solution food insecurity in Sabah, the second largest state in the country. According to government projections, the Dam will increase rice production over the 25,000 hectares of unproductive rice paddies in the region. The construction of the dam is part of a larger plan to increase rice yields by 10% to make Malaysia totally self-sufficient. The dam has been met with opposition, both by the roughly 600 villagers it would displace and some outside observers, such as Christopher Teh, an academic from the Faculty of Agriculture in Universiti Pertanian Malaysia (UPM). Teh believes that in light of the low yields at existent paddies, the dam is “unnecessary”.
July 16th, 2011 | Posted in Global Finance,Headlines,International Real Estate,Real Estate News | Read More »
Productivity for the 21st Century states that gaps in productivity on small farms in Africa are one of the largest factors in the global food security crisis. The report states that only small improvements to the farming system in Africa can turn struggling farms into prosperous ones. Africa is one of the most food deficient areas in the world, global supply chains having chronically failed the region, and relatively little developed agriculture due to extreme poverty.
July 15th, 2011 | Posted in Global Finance,Headlines,International Real Estate,Real Estate News | Read More »
In 2012, world population will hit 7 billion, and this unprecedented level of population growth and density has prompted the U.N. Population Fund (UNFPA) to launch the “7 Billion Actions” campaign to promote new techniques for tackling global development challenges. As the world population increases, the largest concern is still hunger, which kills 6 million children each year, a number roughly equivalent to the population of Israel.On the plus side, innovative solutions in sustainable agriculture can provide a not only food, but also opportunities for a growing population. Sustainable agriculture has become seen as a solution to climate change, public health problems, urban livability, and unemployment in a stagnant job market. The UN hopes that by sharing stories of successful innovations in an open forum, communication and collaboration will spring up, resulting in increased efficiency and production. As the population of earth increases and becomes increasingly dependent on each other, environmentally sustainable, health oriented solutions will be increasingly necessary.
July 14th, 2011 | Posted in Global Finance,Headlines,International Real Estate | Read More »
Brazil’s renewable energy project is possibly the most ambitious in the world, and the country is on track to fulfill it’s pledge to cut emissions by 39 percent in a decade. Since June, Brazil’s 51 wind farms have generated 1 gigawatt of electricity, which effectively powers 1.5 million homes, the first project of this magnitude in South America. The wind turbines are placed throughout the Brazilian northeast and southern states, with more than thirty currently under construction. This is made possible by government incentives that are expected to contribute $15 billion in renewable energy investments, though the full amount may be a long time coming.
July 13th, 2011 | Posted in Global Finance,Headlines,Real Estate News | Read More »
On May 24, two representatives of the National Council of Extractive Workers (CNS), formerly known as the National Council of Rubber Tappers, were shot and killed in Pará, an Amazonian region of Brazil. The husband and wife, José Cláudio Ribeiro da Silva and Maria do Espírito Santo, were vocal advocates for sustainability, preservation of the rainforest, and protection against illegal logging. The murders were stark reminders of Brazil’s increasingly anti-environment atmosphere, which is rooted in agribusiness. The main source of the hostility is the logging industry, which clears large swaths of the rainforest to feed the paper and exotic hardwood industries. The deforestation is compounded by global demand for beef, and feed stocks used in meat and fuel production, such as sugarcane for ethanol. Brazil is already the world’s largest exporter of beef, and the government of Brazil has set a goal of doubling that figure, along with ethanol production, in the next decade.
July 12th, 2011 | Posted in Global Finance,Headlines,International Real Estate,Real Estate News | Read More »
In a last ditch effort at saving their native lands, Paraguay’s Ayoreo tribal people have contacted the UN, begging them not to enable greedy businesses encroaching on their homes. The statement, was written by leaders of the tribe, who railed against UN Global Compact policies, says Survival International spokesman Jonathan Masawa. UN inclusion in the [...]
July 10th, 2011 | Posted in Headlines,International Real Estate,Real Estate News | Read More »
Average home prices in the U.S. fell by more than 21 percent in the two years between 2007 and 2009. By contrast, the value of property in China tripled between 2004 and 2009, booming even through the Great Recession. This made economists take note, opining that it was because of the sturdiness and functionality of the Chinese economy. Two years later, it is apparent that the case is one we are much more familiar with; a housing bubble, American style. And observers are speculating that this bubble is about to burst.
July 9th, 2011 | Posted in Global Finance,Headlines,International Real Estate,Real Estate News | Read More »
